MetaTrader4
Creating the Easiest EA with the DeMarker Indicator for MetaTrader 4
Hey fellow traders! If you’ve ever considered using an Expert Advisor (EA) to enhance your trading strategy, you’re in the right place. Today, I’m sharing my experience with a straightforward EA that I’ve developed, which I think you’ll find super useful. After reading through, I’d love for you to share your thoughts! This EA is designed to operate on a single currency pair and comes with customizable settings for timeframe, lot size, stop loss, and take profit, all easily accessible in the menu properties. extern ENUM_TIMEFRAMES TF = PERIOD_CURRENT;// Select Time Frame
extern int period = 8;// Period DeMarker
extern double lt = 0.01;// Lots
extern int sl = 100;// Stop Loss
extern int tp = 100;// Take Profit
extern double OB = 0.7;// Over Sold
extern double OS = 0.3;// Over Bought
extern bool OPENBAR = false;// Trading on new bar open price Now, here’s a little secret: I break down the EA into three key parts: Data | TimeframeOrder ManagementCurrency Pair //+------------------------------------------------------------------+
//-- Time frame | Indicator
double dmrk[5];
int signal = -1;//-- 0.buy 1.sell
int hold = 0;
//-- Order Management
int ticket = 0;
double lot = 0.0;
int typ = -1;
//-- Currency Pair
datetime t1 = 0;
bool newbar = false;
bool entry = false;
//+------------------------------------------------------------------+ In the OnInit() function, I set up the DeMarker indicator and check for the minimum lot size required by the broker. Here’s how it works: //+------------------------------------------------------------------+
//| Initialization
void OnInit()
{
ArrayInitialize(dmrk,0.0);
//---
const double test_lot = SymbolInfoDouble(Symbol(),SYMBOL_VOLUME_MIN);
if(lt < test_lot) lt = test_lot;
}
Now, let’s dive into the OnTick() function, where we calculate the DeMarker indicator and identify our buy and sell signals: //---------------------------------------------------------------------------
signal = -1;
//---------------------------------------------------------------------------
//--- Calculate
for(int i = 0; i < ArraySize(dmrk); i++)
{
dmrk[i] = iDeMarker(Symbol(), TF, period, i);
}
//---
if(dmrk[1] > OB)
{
hold = 1;// Set hold
}
else
if(dmrk[1] < OS)
{
hold = -1;// Set hold
}
else
{
hold = 0;// Reset hold
}
if(hold == 1)
{
if(dmrk[0] < OB && dmrk[1] > OB)
{
signal = OP_SELL;
}
}
if(hold == -1)
{
if(dmrk[0] > OS && dmrk[1] < OS)
{
signal = OP_BUY;
}
} To execute buy and sell orders, we use the following logic: //---------------------------------------------------------------------------
if(signal != -1)
if(newbar == true)
if(entry == false)// Door open
{
//---
entry = true;// Set entry
//---
if(signal == OP_BUY)
{
ticket = OrderSend(Symbol(), OP_BUY, lt, Ask, (int)((Ask - Bid) / Point,
sl > 0? Bid - sl * Point: 0.0,
tp > 0? Bid + tp * Point: 0.0,
EAName + ":signal= " + IntegerToString(signal) + ":hold= " + IntegerToString(hold),
EANumber,
0,
clrBlue);
signal = -1;
//hold = 0;
}// Reset
else
if(signal == OP_SELL)
{
ticket = OrderSend(Symbol(), OP_SELL, lt, Bid, (int)((Ask - Bid) / Point,
sl > 0? Ask + sl * Point: 0.0,
tp > 0? Ask - tp * Point: 0.0,
EAName + ":signal= " + IntegerToString(signal) + ":hold= " + IntegerToString(hold),
EANumber,
0,
clrRed);
signal = -1;
//hold = 0;
}// Reset signal
}
And when it comes to closing orders... if(entry == true) // Closing
{
if(OrderSelect(ticket, SELECT_BY_TICKET))
{
if(OrderCloseTime() == 0)//-- Order is active
{
/* Condition to close */
//entry = false;
}
// Else
if(OrderCloseTime() != 0)//-- Close by manual, SL/TP, or EA
{
entry = false;// Reset entry
}
}
}
2020.12.17
